Automotive Electronics Market Regional Analysis:
Asia Pacific Market Insights
Asia Pacific region is set to dominate around 47.5% market share by 2035, fueled by the growing sale and production of vehicles, a strong automobile network, and rising vehicle penetration in the region. For instance, in India, the auto industry produced around 22,933,000 vehicles from April 2021 to March 2022. As for burgeoning electronic component manufacturing operations, nations such as Taiwan, Malaysia, South Korea, and Thailand have considerably contributed to the market expansion in the region. Further, the presence of a strong automobile network in the region, and the rapidly growing penetration of vehicles, are also anticipated to contribute to the market growth in the region. In addition, the surge in the proportion of technologically advanced manufacturing units is also anticipated to boost the market growth during the forecast period.
Europe Market Insights
Furthermore, the Europe automotive electronics market is also estimated to display notable market growth by the end of 2035. The growth of the market can be attributed to the existence of major automotive manufacturers such as Skoda, BMW, Volkswagen, and so on in the region. In addition to this, the growing awareness regarding the safety and security features in a vehicle, and the massively rising count of prominent automobile assembly and engine production factories are some further significant factors that are projected to accelerate the automotive electronics market in the region over the projected time frame. For instance, in Europe, there are approximately 306 automotive manufacturing and engine manufacturing plants that manufacture passenger cars, light commercial vehicles, heavy-duty vehicles, buses, and engines.
